更多"Patch Grove Nursery uses the LIFO i"的相关试题:
[单项选择]The Baker Company uses the LIFO inventory valuation method and reported its inventory at $ 200000 and its COGS at $ 500000. The company’ s LIFO reserve increased from $ 5000 to $ 30000 during the year. What amounts would the company report if it were to use the FIFO method Ending Inventory COGS（）
A. ① $170000 $ 525000
B. ② $ 230000 $ 475000
C. ③ $170000 $475000
[单项选择]Sweet Milk Inc uses the LIFO inventory method and had 5000 units of beginning inventory on January 1,2002, that was valued at $10.00 a unit. The company purchased 50000 units at $12 a unit and sold 52000 units at $15 a unit. Sweet Milk is considering an additional purchase of 10000 units at $13 a unit. The company will make the purchase at the end of December or in the early part of year 2003. Which statement about the effect of the purchase decision on net income is most accurate（）
A. Making the purchase in December will increase income by $16000 in year 2002.
B. Income for year 2002 will not be affected no matter when the inventory is purchased.
C. Postponing the purchase until January will increase income for 2002 by $14000.
[单项选择]Which of the following statements about the accounting treatment of a zero-coupon bond is least accurate（）
A. Each year the imputed interest on a zero-coupon bond is amortized to expense, causing cash flow from operations to decrease.
B. Over time the interest expense on the zero-coupon bond will increase as the discount is amortized to interest expense, and the bond liability increases.
C. If the zero-coupon bond is redeemed prior to maturity, any amount over or under the bond’s book value should be listed as again or loss on the income statement.
[单项选择]A company using the LIFO inventory method reports a LIFO reserve at year-end of $85 000, which is $20 000 lower than the prior year. If the company had used FIFO instead of LIFO in that year, the company’s financial statements would have reported:（）
A. a lower cost of goods sold, but a higher inventory balance.
B. a higher cost of goods sold, but a lower inventory balance.
C. both a higher cost of goods sold and a higher inventory balance.
[单项选择]Which of the following statements about the LIFO and FIFO inventory accounting methods is least accurate （）
A. For purposes of inventory analysis, FIFO is preferred over LIFO.
B. FIFO cost of goods sold--LIFO cost of goods sold-change in LIFO reserve.
C. In periods of declining prices, LIFO debt-to-equity ratios are higher than FIFO debt-to-equity ratios.
[判断题]In times of rising prices, the LIFO method of inventory valuation is more prudent than the FIFO method.
[单项选择]Under last in first out (LIFO) accounting during periods of inflation, when a firm sells a greater quantity of its inventory than it produces or acquires, the result is:（）
A. an understatement of the cost of goods sold.
B. lower earnings.
C. an increase in the leverage multiplier.
[单项选择]The year-end balances in a company’s LIFO reserve are $ 56. 8 million in the company’s financial statements for both 2008 and 2009. For 2009, the measure that will most likely be the same regardless of whether the company uses the LIFO or FIFO inventory method is the:（ ）
A. inventory turnover.
B. gross profit margin.
C. amount of working capital.
[单项选择]What does Andrew Grove think people can do to alleviate the scariness of change
A. Although the scariness of change is healthy, we should eliminate some of it.
B. People should alleviate some of the scariness of change.
C. He thinks there is no need to eliminate the fear of change.
[单项选择]
Intel chairman Andy Grove has decided to cut the Gordian knot of controversy surrounding stem cell research by simply writing a check. The check, which he pledged last week, could be for as much as $5 million, depending on how many donors make gifts of between $50,000 and $500,000, which he has promised to match. It will be made out to the University of California-San Francisco (UCSF). Thanks in part to such private donations, university research into uses for human stem cells — the cells at the earliest stages of development that can form any body part — will continue in California. With private financial support, the state will be less likely to lose talented scientists who would be tempted to leave the field or even leave the country as research dependent on federal money slows to a glacial (极其缓慢的) pace. Hindered by limits President Bush placed on stem cell research a year ago, scientists are turning to laboratories that can carry out work without using federal mon
A. interested businesses and individuals
B. the United States federal government
C. a foundation set up by the Intel Company
D. executives of leading American companies
